Floods, fires, hail: Making Canada’s buildings climate-resilient

by Kathy Kerr

As extreme weather events become more frequent and severe in Canada, Regan Smith, head of sustainable investing – real estate and infrastructure for Manulife Investment Management, says the future costs of failing to plan for climate resilience need to be considered.

When construction company president Joshua Gaglardi watched a live tracker show a wildfire approaching a warehouse his company built, it was a wake-up call that climate change poses an urgent risk to his business.

Luckily for Mr. Gaglardi, the fire stopped short of the building in Kelowna, B.C., but it served as a stark reminder that extreme weather events are becoming more common and severe. “It really opened my eyes,” he says. “We should be doing our best as builders and developers and representatives of our clients to mitigate any unforeseen incidents like this.”

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